Question

I'm filing taxes for myself in CA as a dependent. In the "Child with Investment Income" when I add my parent info, the amount of taxes I have to pay goes up by $500. Why?

I don't understand if I'm doing something wrong or not. Why would I have to pay over $500 for being a dependent?

The reason your taxes went up is because you are being taxed at your parents' tax rate,

Use this form to figure your tax on unearned income over $2,100 if you are under age 18, and in certain situations if you are older. Have Unearned Income

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